Why Should I Sell At Auction?

This is usually the first question asked by my potential clients. The answer is quite simple, "Auctions" Work! There is not another single method of selling where the offers from the buyer goes UP instead of DOWN!

The auction method has stood the test of time. For centuries it has been the method chosen to sell trophy real estate (including Rome after the fall of the Roman Empire), rare pieces of art, furniture and collectibles such as sports and movie memorabilia, estates and businesses. Sellers of these expensive items understand the power that the auction method avails to them. Today buying and selling markets have truly discovered the power of using Auctions first!

Control

The auction method allows the power of control to be in the hands of the seller. In private treaty retail selling, the buyer is usually in control because the seller wants to sell and he doesn’t want to let the buyer "get away" so he usually conforms to the demands of the buyer. These demands usually include the offer to purchase being contingent on financing, inspection, zoning, etc. With the auction method of marketing and liquidation, the terms and conditions are established by the auctioneer and the seller and made known to all potential buyers. If a buyer doesn’t conform to the terms and conditions, someone else will. Therefore, the seller stays in control.

Contrary to popular belief, all auctions are not "Absolute". Auctions, Inc. will sell real estate using two methods. One is "Absolute" which generates increased interest, bidder participation and absolute closure. The other method being "Confirmation of Bid", which allows the seller to have the ability to accept or reject the final bid. You the Seller are in full control of the method used!

Urgency and Competition to Buy is Created

Buy this property today! It won’t be available tomorrow! The auction method of marketing creates competition that is not present with the private treaty method. In the private treaty method you have one buyer and one seller. Offers, counter-offers, no shows, and "be-backs" slow the negotiation and selling process. With the auction method, these conditions are transformed into an exciting, urgent bidding competition. The auction method brings all potential buyers together at the same time in a Seller controlled environment, competing against each other to place the successful high bid. The buyers are forced to make a decision now.

Time Value of Money

The private treaty method of selling has no time constraints. For real estate, selling by private treaty may take a few months, 6 months, 1 year, 2 years, or even longer. There is a price for this delay. Interest, taxes, and cost of maintenance of the property continue to accrue.

The quicker property is sold, the greater the bottom line for the seller. With the auction method, real estate is usually SOLD in 30 – 45 days from the contract date with closing within 30 days of the auction date. This way, the seller has definite time frames for all decision making.

Auction Marketing Attracts Attention

Which sign attracts the most attention "For Sale" or "Public Auction"? An auction sign draw peoples’ attention and gets them excited. The National Association of Realtors estimates that 30% of the real estate sold this year will be sold using the auction method.

Every auction marketing plan is customized to the individual sale. By using a combination of the internet, signs, newspapers, specialty magazines, direct mail brochures, and even radio, television and billboard advertisements as necessary, Auctions, Inc. will reach prospective buyers necessary to achieve results.

Immediate Results

When the real estate auction is over, the buyer receives a signed purchase contract with a substantial deposit check. For personal property, a computer printout detailing each lot number, description, sales price and buyer number is provided. A settlement check is provided at the end of seven days. This time frame is in compliance with Georgia Auction Law.

The auction method of marketing accelerates the process of selling real and personal property by compressing the marketing period. Rather than putting a "FOR SALE" sign on the property and waiting and waiting for someone to purchase it. With an Auction, you the seller, are stating "Buy now or lose the chance".

Larry the bidder says "If your thinking of Selling? Think Auctions, Incorporated First"!